Republicans Want to Mandate Balanced Federal Budget

All 47 Senate Republicans, seeking fiscal discipline in big-spending Washington, proposed on Thursday an amendment to the Constitution that would require a balanced federal budget.

A number of such efforts have failed over the years. But backers are hopeful this one may succeed amid an unprecedented push to trim the federal deficit, projected to hit $1.4 trillion this year.

"It's long past the time that we stop spending money we don't have," said Senator Lamar Alexander, a member of Republican leadership. "Requiring that we balance our national budget is a logical step in that direction."

To become law, proposed constitutional amendments must be approved by two-thirds majority votes in the House of Representatives and the Senate, and then ratified by three-quarters of the 50 states.

"The whole thing is a long shot," said Dan Ripp of Bradley Woods, a private firm that tracks Washington for investors.

"The framers (of the Constitution) designed the amendment process to be difficult on purpose," Ripp said.